A crypto strategist known for making timely altcoin calls believes layer-1 protocol Sui (SUI) is gearing up to spark breakout rallies.
Pseudonymous analyst Bluntz tells his 274,600 followers on the social media platform X that SUI appears to have ignited a new bullish trend after printing a higher low setup amid the conclusion of an ABC corrective wave.
Bluntz relies on the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave surge after completing an ABC corrective pattern.
The analyst shares a chart suggesting that SUI can rise to as high as $1.80 in the next few weeks.
“SUI back in a technical high timeframe uptrend again, higher lows and higher highs + key level taken out already.
It’s gonna surprise a few people in the next weeks to months, in my opinion.”
At time of writing, SUI is worth $1.17, up over 13% in the last 24 hours.
Looking at the feline-themed memecoin Simon’s Cat (CAT), the crypto strategist believes that the altcoin is gearing up for another breakout after taking out its resistance at $0.00003.
“CAT is trading like a beast here, constant grind up even while markets were downtrending and now consolidating at prior highs.
I think this resolves violently higher.”
Simon’s Cat is a new memecoin that was launched last month on the Binance Smart Chain. It is based on the British animated web and book series Simon’s Cat.
Looking at the trader’s chart, he seems to suggest that CAT needs to take out its resistance at $0.000036 before witnessing fresh rallies.
At time of writing, CAT is trading for $0.0000354, up over 13% on the day.
Generated Image: Midjourney